October 8, 2010 4:27 PM
Small Cap News Movers for 10/8/10
LML Patent Corp. (”LML”), a wholly-owned, indirect subsidiary of LML Payment Systems Inc. (NASDAQ: LMLP), announced today that it has received total payment in the amount of $5,150,000 and has entered into Settlement and License Agreements with each of The Bank of New York Mellon (”BNYM”) and First National Bank of Omaha and First National Merchant Solutions, LLC with respect to litigation filed by LML in the U.S. District Court for the Eastern District of Texas alleging that each of BNYM and First National infringed U.S. Patent No. RE40,220. The stock closed at $1.98, up 34.69%, on 190,613 traded shares.
Global Education & Technology Group Ltd. (NASDAQ: GEDU) announced that it has priced its initial public offering of 6,375,000 American depositary shares (”ADSs”), each representing four ordinary shares of the company, at US$10.50 per ADS, with a total offering size of US$66.9 million, assuming no exercise of the over-allotment option. The ADSs will begin trading on the Nasdaq Global Select Market on October 8, 2010 under the symbol “GEDU.” The Company has granted the underwriters a 30-day option to purchase up to an additional 956,250 ADSs. The stock closed at $12.20, up 16.19%, on 6,301,873 traded shares.
TeleCommunication Systems, Inc. (NASDAQ: TSYS) announced that it has been awarded a new order with a ceiling value of $9.3 million to provide satellite terminal spare parts to the U.S. Army. The order is initially funded at $5.3 million and will be funded up to a total of $9.3 million if the options are fully exercised through August 2011. This award was made under the Army’s $5 billion World-Wide Satellite Systems (WWSS) Indefinite Delivery Indefinite Quantity (IDIQ) contract vehicle in support of the Project Manager for the Warfighter Information Network-Tactical (PM WIN-T). The stock closed at $5.17, up 13.88%, on 4,646,670 traded shares.
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October 6, 2010 4:57 PM
Small Cap News Movers for 10/6/10
Old National Bancorp (NYSE: ONB) and Monroe Bancorp (NASDAQ: MROE) of Bloomington, Indiana, jointly announced today the execution of a definitive agreement under which Old National will acquire Monroe Bancorp through a merger. Monroe Bancorp is an Indiana bank holding company whose wholly owned subsidiary, Monroe Bank, is the largest bank headquartered in Bloomington with nearly $850 million in assets. Monroe Bank was established in Bloomington in 1892 and currently has 15 banking centers in central and south central Indiana. The stock closed at $11.25, up 109.11%, on 305,740 traded shares.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) today announced significant enhancements to its leading mobile resource management (MRM) solution. TCS Workforce Locator™ is a web-based location application that heightens an organization’s visibility into its mobile workforce, thereby increasing productivity. Using this economical and easy-to-use MRM solution, which is proven and tested through tier-1 U.S. carrier experience, decision makers can employ mobile location technology to efficiently manage mobile teams. The stock closed at $4.89, up 31.10%, on 9,180,122 traded shares.
ICOP Digital, Inc. (NASDAQ: ICOP) today announced the initial order to deploy ICOP Model 20/20-W® mobile video systems to 11 Air Force Bases in the Southern US, stretching from Arizona to Florida. The units will be installed in vehicles operated by the Air Force Security Forces at their respective bases. The initial order was valued at over $200,000, with up to $1.4M in total fleet deployment. The sale originated at Randolph Air Force base, a long standing ICOP customer for both police and fire vehicles. The stock closed at $2.29, up 20.53%, on 520,325 traded shares.
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October 4, 2010 4:42 PM
Small Cap News Movers for 10/4/10
Microsemi Corporation (NASDAQ: MSCC) announced today that it has entered into a definitive agreement to acquire Actel Corporation (NASDAQ: ACTL) for $20.88 per share through a cash tender offer. The total transaction value is approximately $430 million, net of Actel’s projected cash balance at closing. Headquartered in Mountain View, California, Actel is a leading supplier of low-power, mixed-signal, and radiation-tolerant field programmable gate arrays. The stock closed at $20.95, up 30.77%, on 6,139,925 traded shares.
Intellicheck Mobilisa, Inc. (NYSE AMEX: IDN) received a contract from the US Army National Guard at Camp Atterbury to provide them with the Fugitive Finder access control equipment. The value of the contract is approximately $250,000 for equipment, software, installation, training and warranties. This is the first full deployment of the company’s latest addition to the Defense ID system, Fugitive Finder. The stock closed at $1.39, up 15.83%, on 230,289 traded shares.
BIOLASE Technology, Inc. (NASDAQ: BLTI) announced today that Vice President of Engineering Dmitri Boutoussov, Ph.D., has been promoted to Chief Technology Officer, effective immediately. In the newly created position, Boutoussov will report directly to Federico Pignatelli, Chairman and CEO. Prior to his tenure at BIOLASE, Boutoussov among others was also a technical manager with Laser Medical Systems, GmbH, in Vienna, Austria. The stock closed at $1.59, up 16.91%, on 696,394 traded shares.
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September 30, 2010 4:09 PM
Small Cap News Movers for 9/30/10
Trio-Tech International (NYSE AMEX: TRT) announced today that revenue for the fourth quarter of fiscal 2010 tripled to $12,874,000 compared to $4,328,000 for the fourth quarter of fiscal 2009. Net income for the quarter was $323,000 compared to a loss of $683,000 for the same quarter last year. At June 30, 2010, Trio-Tech reported cash and cash equivalents, restricted term deposits and short-term deposits of $8,205,000 ($2.54 per outstanding share), working capital of $8,665,000, and shareholders’ equity of $20,266,000 ($6.28 per outstanding share). The stock closed at $4.72, up 31.48%, on 184,037 traded shares.
RELM Wireless Corporation (NYSE AMEX: RWC) today announced that it has received orders totaling approximately $3.2 million from several different branches of the U. S. Military, of which approximately $2.7 million is for the Company’s new P25 trunked portable and mobile radios. These orders include products for all the major frequencies; VHF, UHF and 800MHz and will be deployed both domestically and internationally. It is anticipated that the orders will be fulfilled during the fourth quarter of 2010. The stock closed at $2.09, up 21.40%, on 218,975 traded shares.
AirMedia Group Inc. (NASDAQ: AMCN) today announced that it recently renewed its concession rights contract with China Southern Airlines to operate digital TV screens on the airplanes of China Southern Airlines for five years from October 1, 2010, to September 30, 2015. The renewed contract not only allows AirMedia to operate digital TV screens in the economy class but also the Video-on-Demand system and portable multi-media devices in the business class and first class on the airplanes of China Southern Airlines. The stock closed at $5.92, up 17.00%, on 800,122 traded shares.
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September 27, 2010 4:02 PM
Small Cap News Movers for 9/27/10
Virtual Radiologic (vRad) and NightHawk Radiology (NASDAQ: NHWK) today announced that they have entered into a definitive agreement under which vRad will acquire all of the outstanding common stock of NightHawk Radiology Holdings, Inc. for $6.50 per share in cash. The offer price represents a premium of 100% over NightHawk’s last closing stock price of $3.25 per share. The transaction is valued at approximately $170 million. The stock closed at $6.38, up 96.31%, on 8,815,014 traded shares.
Seattle Genetics, Inc. (NASDAQ: SGEN) and Millennium: The Takeda Oncology Company, a wholly owned subsidiary of Takeda Pharmaceutical Company Limited (TSE:4502), today announced positive top-line results from the pivotal trial of single-agent brentuximab vedotin (SGN-35), an antibody-drug conjugate (ADC) targeted to CD30. The trial was conducted in 102 relapsed or refractory Hodgkin lymphoma (HL) patients. The stock closed at $14.30, up 17.60%, on 12,146,193 traded shares.
Gulf Resources, Inc. (NASDAQ: GFRE) today announced that its Board of Directors has authorized a new share repurchase program under which the Company may acquire up to $10 million of its issued and outstanding common shares from time to time over the next 12 months. Any repurchases will be made on the open market at prevailing market prices or in block trades and subject to restrictions relating to volume, price and timing. Gulf Resources plans to fund repurchases from its available cash balance. The stock closed at $7.31, up 12.29%, on 920,471 traded shares.
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September 22, 2010 4:23 PM
Small Cap News Movers for 9/22/10
Origin Biotechnology, a wholly-owned subsidiary of Origin Agritech Limited (NASDAQ: SEED) announced it has reached an comprehensive, worldwide agreement with the Institute of Plant Protection, Chinese Academy of Agricultural Sciences (CAAS). CAAS jointly own the rights to the internally developed Bt-gene. Bacillus thuringiensis or “Bt” is a common soil bacterium that produces crystals that are toxic to certain insects. Origin Biotechnology already possesses the rights to this genetic trait in domestic China, and has been passing this product through the Ministry of Agriculture regulatory trials. The stock closed at $8.67, up 14.23%, on 4,280,827 traded shares.
China North East Petroleum Holdings Ltd. (NYSE AMEX: NEP) today announced that it has engaged Ernst & Young (China) Advisory Ltd. to assist the Company to comply with the requirements of Section 404 of the Sarbanes-Oxley Act Section of 2002. Ernst & Young will work closely with the Company’s management to help prepare a SOX 404 compliance program. In addition, Ernst & Young will provide recommendations to Company’s management for instituting necessary additional controls to enhance the risk management capability of the Company’s internal controls over financial reporting. The stock closed at $4.87, up 9.44%, on 793,193 traded shares.
BSD Medical Corporation (NASDAQ:BSDM) announced today that Texas Oncology has acquired the BSD-500 Hyperthermia System (BSD-500). Texas Oncology is an affiliate of the United Network of US Oncology, the nation’s largest network of community-based oncologists devoted to advancing cancer care and improving the cancer patient experience. The acquisition of the BSD-500 by Texas Oncology significantly increases the number of patients who will have access to hyperthermia treatment. The stock closed at $3.24, up 9.09%, on 2,144,199 traded shares.
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September 14, 2010 4:13 PM
Small Cap News Movers for 9/14/10
AudioCodes (NASDAQ: AUDC) today announced that Toshiba America Information Systems Inc., Telecommunication Systems Division has entered into a reseller agreement to resell AudioCodes Mediant 1000 and MediaPack series media gateways for use with Toshiba’s family of Strata® CIX™ IP business telephone systems and Strata Messaging unified messaging systems. The stock closed at $3.14, up 8.65%, on 547,467 traded shares.
OCZ Technology Group, Inc. (NASDAQ: OCZ) unveiled new Ultra-Low Voltage (ULV) and Extreme-Low Voltage (ELV) high-speed DDR3 desktop memory, providing the optimal balance of performance and power efficiency in one solution. Committed to staying ahead of the curve, OCZ is offering enthusiast-grade memory that complies with the latest JEDEC “DDR3L” low-voltage standards which ensures that system RAM runs cooler and more efficiently. The stock closed at $2.53, up 11.73%, on 267,136 traded shares.
GeoGlobal Resources Inc. (NYSE AMEX: GGR) announced that a Memorandum of Understanding (MOU) has been signed with Petro Caribbean Resources Ltd. relating to conducting oil and natural gas exploration and development activities in Colombia, subject to the execution by PCR of definitive agreements with the Colombian National Agency of Hydrocarbons (ANH). The stock closed at $0.70, up 7.69%, on 151,690 traded shares.
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September 13, 2010 4:15 PM
Small Cap News Movers for 9/13/10
Otix Global, Inc. (NASDAQ: OTIX), a leading provider of hearing care services and solutions and the parent company of Sonic Innovations, Inc. (Sonic) and HearingLife, today announced that it has entered into a definitive merger agreement with William Demant Holding A/S (WDH), the parent company of hearing aid companies, Oticon and Bernafon. Under the merger agreement WDH will pay $8.60 for each outstanding share of Otix common stock. The stock closed at $8.34, up 106.44%, on 2,763,366 traded shares.
Eyak Technology, LLC announced today that it has again made a proposal to the board of directors of GTSI Corp. (NASDAQ: GTSI) to acquire by merger all of the outstanding capital stock of GTSI at a price of $7.00 per share in cash. The proposal represents a premium of 35.1% over GTSI’s closing market price on September 10, 2010 of $5.18 and a premium of 34.6% over the average closing price for the preceding 30 trading days. The stock closed at $6.89, up 33.01%, on 383,480 traded shares.
Optical Cable Corporation (NASDAQ: OCCF) today announced financial results for its fiscal third quarter ended July 31, 2010. The Company achieved significant increases in net sales and gross profit for both the quarter and year-to-date periods compared to the same periods in fiscal 2009, and returned to profitability in the third quarter of fiscal 2010. Net sales during the third quarter of fiscal year 2010 were the highest in OCC’s history. The stock closed at $2.78, up 26.36%, on 91,890 traded shares.
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September 9, 2010 4:20 PM
Small Cap News Movers for 9/9/10
BSD Medical Corporation (NASDAQ: BSDM) announced today that Dalian Orientech Co. Ltd, the Company’s exclusive China distributor, has ordered two BSD-2000 Hyperthermia Systems (BSD-2000). The BSD-2000 System utilizes BSD’s proprietary synchronous phased array technology to non-invasively target therapeutic heating (hyperthermia) to certain cancerous tumors, including those located deep within the body. Clinical studies have shown that hyperthermia treatment can kill cancer cells directly as well as increase the effectiveness of other cancer therapies, including radiation therapy, for the treatment of certain tumors. The stock closed at $2.46, up 8.37%, on 2,929,827 traded shares.
Tucows Inc. (NYSE AMEX:TCX) announced today that it intends to commence a modified “Dutch auction” tender offer to repurchase up to 2,900,000 shares of common stock, representing approximately 5.1% of Tucows’ outstanding shares. The tender offer is expected to commence on Friday, September 17, 2010 and to expire, unless extended, at 5:00 P.M., New York City Time, on Tuesday, October 19, 2010. Tucows also announced that it has terminated its normal course issuer bid commenced in February 2010 pursuant to which Tucows has repurchased 3,409,300 shares of common stock. The stock closed at $0.69, up 11.13%, on 193,007 traded shares.
KIT digital, Inc. (NASDAQ: KITD) has acquired Accela Communications, Inc. (based in Southborough, Massachusetts) and the assets of Megahertz Broadcast Systems, Ltd. (based in Ely, United Kingdom). “These acquisitions extend our leading market share position for enterprise-level video asset management products and services across the multiple screens of the mobile and tablet device, browser and IP-enabled television,” said KIT digital’s chairman and CEO, Kaleil Isaza Tuzman. “They are consistent with our acquisition strategy of geographical and sales vertical expansion, and we expect them to be accretive on both a revenue and cash-flow basis.” The stock closed at $9.87, up 4.44%, on 383,288 traded shares.
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September 8, 2010 4:16 PM
Small Cap News Movers for 9/8/10
Zoran Corporation (NASDAQ: ZRAN) today announced that it has entered into a definitive agreement to acquire Microtune®, Inc. (NASDAQ: TUNE). Under the agreement, Zoran will pay $2.92 in cash for each share of Microtune’s common stock, resulting in a transaction price of approximately $166 million, or $84 million net of cash acquired. Both boards of directors have approved the transaction, which is expected to close after Microtune shareholder approval, regulatory clearance and satisfaction of customary conditions specified in the agreement. The stock closed at $2.95, up 19.43%, on 13,659,535 traded shares.
Stereotaxis, Inc. (NASDAQ: STXS) highlighted significant new additions to the body of evidence demonstrating exceptional clinical outcomes achieved with its Niobe® Magnetic Navigation System in ventricular tachycardia (VT) ablation. At the European Cardiology Society Annual Congress in Stockholm last week, the research team led by Dr. Tamas Szili-Torok from the Erasmus Medical Center in Rotterdam presented the first comparative trial in a prospective study of 64 consecutive VT patients, comparing Stereotaxis VT ablation to conventional, non-magnetic ablation. The stock closed at $3.79, up 14.85%, on 386,574 traded shares.
U.S. Geothermal Inc. (NYSE AMEX: HTM) announced today that it has entered into a strategic and financial partnership with Enbridge (U.S.) Inc., a subsidiary of Enbridge Inc, a NYSE and TSX-listed company with a market capitalization of $18.75 billion. The partnership involves Enbridge investing up to US$23.8 million in the 35 megawatt (”MW”) Neal Hot Springs geothermal project in eastern Oregon. The Enbridge equity investment in the Neal Hot Springs project will fully fund the remaining equity share of the construction costs. The stock closed at $0.89, up 17.11%, on 1,862,709 traded shares.
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